Table A Year-on-Year and Month-on-Month Growth Rates of Producer Price Index:
November 2012 and October 2012
TOTAL MANUFACTURING |
November
2012
|
October
2012
|
---|---|---|
Producer Price Index (2000=100) |
160.4 |
161.4r |
Year-on-Year Growth |
-2.8 |
-2.6r |
Month-on-Month Growth |
-0.6 |
-0.9 |
r - revised
- Producer Price keeps its negative trend since June 2012
Producer Price Index (PPI, 2000=100) for the manufacturing industry continued to decrease by 2.8 percent in November 2012, compared with the year ago level, according to the preliminary results of the Monthly Producer Price Survey. Three major sectors posted double-digit decreases led by furniture and fixtures, with a decrement of 15.5 percent. The two other sectors that posted significant decreases were: electrical machinery (-11.5%) and wood and wood products (-11.2%). On the other hand, increases in the PPI were observed in eight major sectors led by food manufacturing (6.2%). Refer to Tables 1 and A-1.
On a month-on-month performance, PPI dropped 0.6 percent in November 2012 from -0.9 percent in October 2012. This was brought about by decreases registered by nine major sectors led by furniture and fixtures (-5.6%). On the other hand, four sectors posted increases in PPI led by non-metallic mineral products (0.6%) while seven major sectors posted flat growths. Refer to Tables 1 and A-2
TABLE A-1 Producer Price Index, October 2012 – November 2012
(2000 =100)
Gainers |
Year-on-Year Growth (percent) |
|
---|---|---|
November 2012 |
October 2012
(revised)
|
|
Food Manufacturing |
6.2 |
4.9 |
Petroleum Products |
2.7 |
1.6 |
Transport Equipment |
3.0 |
1.7 |
Rubber and Plastic Products |
5.8 |
4.8 |
Publishing and Printing |
6.1 |
6.1 |
Non-Metallic Mineral Products |
1.5 |
0.6 |
Beverage |
0.3 |
0.1 |
Textiles |
1.0 |
0.8 |
Losers |
Year-on-Year Growth (percent) |
|
---|---|---|
November 2012 |
October 2012
(revised)
|
|
Electrical Machinery |
-11.5 |
-10.6 |
Machinery Except Electrical |
-7.8 |
-6.2 |
Basic Metals |
-8.8 |
-5.1 |
Chemical Products |
-2.0 |
-3.9 |
Wood & Wood Products |
-11.2 |
-11.2 |
Miscellaneous Manufactures |
-3.9 |
-2.9 |
Furniture and Fixtures |
-15.5 |
-14.9 |
Paper and Paper Products |
-3.5 |
0.3 |
Fabricated Metal Products |
-3.1 |
-3.3 |
Footwear and Wearing Apparel |
-2.6 |
-3.6 |
Leather Products |
-2.8 |
-2.7 |
Tobacco Products |
-0.5 |
-0.5 |
TABLE A-2 Producer Price Index, November 2012 – October 2012
(2000 = 100)
Gainers |
Month-on-Month Growth (percent) |
|
---|---|---|
November 2012 |
October 2012
(revised)
|
|
Non-Metallic Mineral Products |
0.6 |
-0.7 |
Chemical Products |
a/ |
-2.9 |
Paper and Paper Products |
a/ |
-0.5 |
Textiles |
0.0 |
-0.1 |
Footwear and Wearing Apparel |
0.0 |
0.7 |
Leather Products |
0.0 |
a/ |
Tobacco |
0.0 |
0.2 |
Fabricated Metal Products |
0.0 |
0.0 |
Publishing and Printing |
0.0 |
0.0 |
Beverages |
0.2 |
0.0 |
Wood & Wood Products |
0.0 |
0.0 |
Losers |
Month-on-Month Growth (percent) |
|
---|---|---|
November 2012 |
October 2012
(revised)
|
|
Basic Metals |
-3.9 |
-1.0 |
Machinery Except Electrical |
-1.2 |
-2.4 |
Electrical Machinery |
-0.7 |
-1.1 |
Transport Equipment |
-0.7 |
1.0 |
Miscellaneous Manufactures |
-0.6 |
-0.8 |
Petroleum Products |
b/ |
-2.2 |
Food Manufacturing |
b/ |
-0.9 |
Furniture & Fixtures |
-5.6 |
0.4 |
Rubber and Plastic Products |
b/ |
0.0 |
Note:
TECHNICAL NOTES
- Introduction
The National Statistics Office generates various price indices, one of these is the Producer Price Index (PPI). The PPI, a designated statistics, is generated through the results of the Producer Price Survey (PPS) conducted nationwide. The survey gathers monthly producer prices of selected products of establishments included in the market basket.
The PPI is used as a deflator of the Monthly Integrated Survey of Selected Industries (MISSI) to derive indicators for the Volume of Production Index (VoPI) and Volume of Net Sales (VoNSI).
- Method of Index Computation
PPI utilizes the Paasche-type method of index computation. The weights are computed from the value of production to derive concentration ratios from the Census of Philippine Business and Industry (CPBI) or Annual Survey of Philippine Business and Industry (ASPBI). The weights are updated as soon as new results of the ASPBI or CPBI are available and applied at the beginning of each survey year.
For the 2012 PPI, the weights of the major sectors and sub-sectors were computed from the results of the 2009 ASPBI for Manufacturing Establishments with total employment of 20 and over, which is the latest survey results.
The formulas in the computation of the PPI are as follows:
- Industry Coverage
The industry classification of the 2012 PPI utilizes the amended 1994 Philippine Standard Industry Classification. There are 20 major sectors covered by the 2012 PPS with three consisting of subsectors.
1994 PSIC CODE |
INDUSTRY DESCRIPTION |
---|---|
15 except 155 |
Food manufacturing |
155 |
Beverages |
16 |
Tobacco products |
17 |
Textiles |
18,174 and 192 |
Footwear and wearing apparel |
191 |
Leather products |
20 |
Wood and wood products |
21 |
Paper and paper products |
22 |
Publishing and printing |
23 |
Petroleum products |
24 |
Chemical products |
25 |
Rubber and plastic products* |
26 |
Non-metallic mineral products* |
27 |
Basic metals* |
28 |
Fabricated metal products |
29 and 30 |
Machinery except electrical |
31 and 32 |
Electrical machinery |
34 and 35 |
Transport equipment |
36 |
Furniture and fixtures |
33,37 and 39 |
Miscellaneous manufactures |
Note: * - Major sectors categorized into sub-sectors |
- Response Rate
The response rate for November 2012 is 83.0 percent, which corresponds to the retrieval of 274 sample establishments’ reports. Refer to Table 2.
Table B Response Rates For Total Manufacturing
(In Percent)
|
|
---|---|
November 2012 |
October 2012
(revised)
|
83.0 |
93.0r |
Non-responding sample establishments are estimated using cold-deck imputation method. Revisions to the preliminary estimates are done upon receipt of actual reports from late respondents.
(Sgd) CARMELITA N. ERICTA
Administrator